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GoldSeek Web

Asian Metals Market Update: August-18-2017

By: Chintan Karnani, Insignia Consultants

 -- Published: Friday, 18 August 2017 | Print  | Disqus 

The terror attack in Spain is very good for gold demand from Europe. I have been repeating in my previous reports that Islamisation of Europe equals Shariaization of Europe. There will be religious clashes between migrant Islamic radicals and traditional native Europeans. Japan is a peaceful nation as it does not allow migrants. Once Japan allows migrants it will also be on the way to become another Pakistan.


France, Germany, UK, Holland and Portugal all had colonies in Asia. History is repeating itself with Europe. History says that peaceful Asian rulers before the world war one had allowed Christian migrants into these nations, churches were allowed to be built. Later these nations started capturing more and more of Asia through divide and rule policy followed by massive forced conversions to Christianity. Christianity in Asia is the result of allowing migrant European Christians into Asia. Now the reverse will happen in Europe. Over the next few decades Islamist radicals in the form of migrants will rule Europe. There will be forced conversions to Islam. More and more Sharia zones will be implemented. Islam says that one should invest in gold. Islam replacing Christianity as the major religion in Europe and Asia will be long term hyper bullish for gold.  (I do not want to offend any religious. I have trying to remind of history. If anyone is offended, my apologies in advance. I am personally only against any form of religious brainwashing.)


There are no big US economic data releases today or Monday. It will be a technical trade. Gold, silver and copper have to break past key resistances. There can be big one way moves in them.


COMEX GOLD DECEMBER 2017 – current price $1292.70

Bullish over $1282.40 with $1298.80- and $1309.70 as price target

Bearish below $1276.60 with $1273.50 and $1266.50 as price target.

Neutral Zone between: $1276.60-$1282.40

  • Gold can rise to $1298.10 and $1309 as long as it trades over $1277-$1282 zone.
  • Sellers will be there only below $1282 today.

MCX COPPER AUGUST – previous day close Rs.415.95

There is a mini double top around 422. There can be correction to 411.10 and 403.80 as long as copper does not break 422. Only a break of 422 will trigger another wave of rise to 441.30 and 456.80.

(prices in Indian rupees above)

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. Prepared by Chintan Karnani

Disclosure: Insignia consultants or it employees do not have any trading positions on the trading strategies mentioned above. Our clients do have positions on the trading strategies mentioned in the above report.

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